Porto Montenegro, Investment Corporation of Dubai (ICD)
Located in the beautiful UNESCO protected Bay of Kotor, Porto Montenegro combines a spectacular destination with a world-class, full- service marina.
Porto Montenegro was conceived in 2006 and moved from concept to reality in just under 10 years. In 2016, a new chapter in Porto Montenegro’s history started when the Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai, acquired Porto Montenegro.
* A 450 berth fully serviced marina
* Almost 300 sold out and delivered luxury apartments, with a potential to build up to 900
* 57 Retail and Food and Beverage Outlets totaling almost 15,000 m2
* 90 key 5 Star luxury Regent Condo Hotel (including 55 Condo Apartments)
* World class yacht club
* Knightsbridge International School
Luštica Development, ORASCOM
The integrated project is planned to offer 2,080 residential units, 7 hotels with a total capacity of 1,370 rooms, 2 world-class marinas on the Adriatic Sea with170 berths, an 18-hole golf course, a Thalasso Centre, commercial facilities, a town centre, and basic infrastructure facilities.
The project will be the first certified eco-labelled development in Montenegro. The value of this investment is expected to reach ca. 1.1 billion Euros.
Potonovi, Azmont Investments
The resort with an area of 26 hectares will be located on the shore of the Boka Bay, on the site of the old barracks in Kumbor, Municipality of Herceg Novi . Once complete, Portonovi will include the One&Only Portonovi, a destination wellness spa, a marina catering to super yachts, a luxury beach club, the Portonovi Arena, Conference Centre and a tennis academy. Visitors will be able to explore waterfront shops, cafes and restaurants, botanical gardens with biodiversity and eco-park, as well as a fish market and organic food market.
Initially, a 250 million Euro investment was planned, however later a decision was made to increase the amount of investment to up to 650 million Euros. The new facility will include a network of One&Only resorts, focused on the exclusive clients. The investment will be the biggest one in this type of business in the SEE.
Sveti Stefan, Aman Resorts
One of the best-known hotel managing brands in the world, Aman Resorts, has been successfully operating in Montenegro for the past few years in the most exclusive location in the country. Sveti Stefan has been known for years as a gateway for world-renowned celebrities, where they were able to soak up one of the best views in the world with the total privacy that the place provides for them.
Since 2008, Adriatic Properties, a subsidiary of Greece’s Restis group, has invested around 52 million Euros in Aman Sveti Stefan. After years of restoration, the reconstruction of the 15th century fishing village has been completed, creating one of the most exclusive addresses in Montenegro.
Blue Horizons, Qatari Diar
One of the largest real estate companies in the world, Qatari Diar, has started to develop a luxury project in Montenegro. The company acquired rights to the Blue Horizon hotel complex for 24 million Euros, and plans to develop a five-star luxury hotel that will include sports facilities and villas. Set up in Plavi Horizonti, on the Lustica Peninsula, this project represents one of the most exclusive projects in whole Europe, considering the green surroundings on one side and clear blue water on the other side of the project.
Since Qatari Diar is known worldwide for its high-end projects, there is no doubt that the project in Plavi Horizonti will live up to the company’s reputation. Investment cost will be 250 million Euros.
This islet with a fort, 3.4 nautical miles away from Herceg Novi, is of circular shape and has about 200 m in diameter. By its architectural design, the fort is considered the most beautiful in the Adriatic area. Mamula Fort served as a camp during both World Wars. The whole project is based on the precise principles of conservation, because it will enable the protection of the site with the Mamula Fort, which is now in a precarious condition, from further deterioration. It includes the valorisation for tourism purposes through reconstruction within the existing dimensions, with strict adherence to conservation requirements.
The project plans comprise a hotel with 23 guest rooms and one memorial room of a museum character. And, most importantly, there is no dilemma about the conservation and preservation of this structure through the new life it will be given in this way.